Final Regs Address Taxes on Gifts to Taxpayers from Ex-U.S. Citizens, Residents
The IRS issued final regulations (T.D. 10027) regarding taxpayers who must pay taxes on gifts or bequests that they receive...
Be Aware of Changes to Family Tax Credits
Feb 3, 2025
Millions of working families rely on family tax credits like the child tax credit (CTC) to support household bills like...
BOI Reporting Still on Hold Despite Supreme Court
Jan 30, 2025
Reporting companies covered by the Corporate Transparency Act’s (CTA’s) beneficial ownership information (BOI) reporting requirement do not have to file...
Business Standard Mileage Rate Increases for 2025
Jan 9, 2025
The IRS increased the optional standard mileage rate used to calculate the deductible costs of operating a vehicle for business...
BOI Reporting Deadline Extension in Doubt
Jan 6, 2025
The bill passed Friday night to avert a federal government shutdown didn’t include a one-year extension to the deadline for...
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